Tag: Summer Budget

While June 21 was the official start to summer, if you are like me, Memorial Day weekend kicks off the unofficial start.  A few years ago, I learned the value of marking things in seasons with opening ceremonies from Kendra Adachi (AKA The Lazy Genius), one of my favorite authors and podcasters.  So now I think of Memorial Day weekend as my summer opening ceremony and Labor Day weekend as my summer closing ceremony.  It helps me be more intentional and present to enjoy the things that are unique to summer. When I think about summer and all that it has to offer, I think about vacations, longer days, food on the grill, homemade ice cream churning, and my favorite – lightning bugs (your family may call them fireflies). The moment I see the first lightning bug light up in the back yard, I’m transported to a childhood spent chasing them, catching them, and occasionally having a few of them escape my bug trap in the house! Summer is a season with plenty of opportunities to make lasting memories.  

Another influence on my summer planning has been a full-time camping couple that produce content for their YouTube channel Keep Your Daydream.  When Kevin and I bought our camper (my tent camping days are behind me now), we devoured their content.  It was as informative and educational as it was inspiring.  Each year they create a Summer to Remember theme and checklist. I always enjoy watching couples and families create their list, amazed by the things that are common among the lists and marveling at the things I never would have thought of for my own list, like “see a bear”.   

My occupation centers around planning.  It just never occurred to me that I should be planning for things like seasons.  However, I often found myself getting to September and being full of disappointment because summer didn’t live up to the expectation I had created in my head.  This year, I’m creating my own summer plan to avoid stress and maximize enjoyment.  

Step One: Make a List 

Grab a piece of paper or the Notes app on your iPhone, and get to work! Don’t overthink this part. Start getting everything out of your head.  What are the things you can only do in summer? Does your family have any special traditions? What’s already hard coded for the summer? This could be a vacation that’s already on the calendar or summer camps for the kids. What foods make you think about summer? Regardless of the phase of life you are in, there are things that make summer special for you. Be bold and list as many as you can! 

Here are a few things from my own summer brainstorm:  

• Camping trip to the beach 
• Camping trip to the mountains 
• Sparklers 
• Watch lightning bugs late at night 
• Popsicles 
• Grilling our favorite food 
• Watch fireworks 
• Pickleball  

Finished with your list? On to Step 2 then! 

Step 2: Assess Your Summer Budget 

It’s time to review your budget.  Have you paid for vacations already or are there expenses left to be paid? Are there unique expenses that you only have for summer?  

Here’s a peek at some of the things that I budget during the summer: 

• Father’s Day in June because I have a husband, dad, and bonus dad I want to celebrate well. 
• Graduations 
• Weddings 
• My birthday in July   
• Annual camping trip to Roan Mountain, TN.  Reservations start a year and 1 week out. It’s like the Hunger Games getting these reservations! So, while this year’s vacation is paid for, it’s time to think about next year and set a reminder on the calendar. 

• Increased electricity bills. Air conditioning is working overtime, and as much as I love summer, I don’t enjoy sweating inside. 

I create digital budgets using an app so it’s easy to refer to what happened last year which means fewer surprises this year. Categories like electricity, gas, gifts, and recreation get increased for us over the summer.  

Spending some time planning prevents summer expenses from spiraling out of control and following me into fall on a credit card.  It’s an easy way to lower stress and maximize enjoyment. 

In addition to a monetary budget, I also consider the budgeting of my time.  It’s a finite resource and may not get the attention it deserves.  If I fail to plan my time appropriately, it only increases the stress around things I want to enjoy. 

Enter in the concept of “Front Porch Fridays”. I started labeling this concept last year.  I wanted a way to convey to my friends that it was a relaxed time with no agenda.  Fridays at the end of a summer week seemed like the perfect time to sit and unwind.  It’s a built in and purposeful time to do absolutely nothing.  Some Fridays it morphed into ordering take-out. Some Fridays were moved to the neighborhood pool instead of the porch.   

To truly enjoy summer in the manner I envisioned it, I had to create space to slow down. So, take a few minutes to think about your summer plans.  Do you already feel like it’s slipping away? Mark a few days on the calendar each month that are reserved for your important summer items.  

Finished with your budget? Check out Step 3. 

Step 3: Refine Your List 

Now that you’ve brainstormed and thoughtfully considered your budget, let’s circle back to that list you created in Step 1.  Does anything seem like it is outside the scope of your budget?  If so, it may be something you say “no” to this year but start planning for in future years. 

What are the things that take very little money? Most of the things on my list aren’t costly so I zone in on those first. I like to circle or highlight all the items that fall into this category.  These are the things that will create summer memories if I just carve out the time and prioritize them.   

Once those low budget items are circled and highlighted, what’s left on your list?  These would be the things that you would value enough to shift things around in your budget for right now.  This could be a last-minute vacation or traveling to a wedding. Sporting events and outdoor concerts are other things that we tend to do more as a family in the summer.   

At this point, you should have three types of items from your brainstorm list.  

• The big-ticket events that you’ll delay for this summer but start planning for in future years. 
• The inexpensive things that will help you cultivate those fond summer memories. 
• The important things this summer that you are prioritizing in the budget that won’t break the bank. 

If the first three steps are really this easy to reduce stress and maximize summer enjoyment, then why do many of us feel so frazzled and disappointed when summer is over? 

Here are two main reasons I’ve experienced personally: 

• I failed to carve out the time at the beginning of summer to plan. 
• I eagerly made the list but didn’t follow through because (a variety of various reasons that I could easily insert here!) 

Steps 1 – 3 are there to address the first reason.  Step 4 is going address the second reason.  

Step 4: Do All the Things 

When I have those circled or highlighted, the next critical thing for me is to be intentional about doing them! This may seem so silly, but can’t you think of a time where you wanted to do something but never did? It’s probably happened in more areas of my life than I would care to admit.  I see it frequently with clients as well.  We’ll spend time creating a financial plan but then various steps of implementing the plan can stall. 

When it comes time to implement, we let roadblocks get in our way.  There are entire books dedicated to studying change such as Dr. James Prochaska’s Changing for Good. One of the top reasons for not acting is that we weren’t ready for change.  That’s about as simplistic of an explanation for not changing as I think we could get so this would be a great time for us to pause and reflect.  Are we willing to change some of the behaviors that have kept us from doing the things that we thought we wanted to do?   

If this season of life has you tired and stretched thin, but you still want to have a stress-free summer full of enjoyment, go easy on yourself. Revisit Step 3 and limit them to the things that will be the easiest and the most fulfilling.  Could you batch prepare to make it even easier? This could look like going shopping once for all the things you need for summer such as sunscreen, sparklers, popsicles, cards for various occasions and maybe some gift cards for the gifts you need. 

Do you have a little more bandwidth this summer?  If so, you could still implement ideas like batch shopping for summer supplies but then take it a step further.  Look at your calendar and go ahead and put time on it for a few days this summer. If a festival or event is important to you, put it on your calendar now!  For the smaller activities that may not need a specific date, choose a few days where you seem to have the most time and label it “Summer Fun”.  It’s a gentle reminder that it was important enough to you to plan and put it on the calendar.  If you get to that day on the calendar and decide “not today” that will be okay too. You’ve made an active choice to do something else. 

Avoiding stress and maximizing enjoyment this summer can be easily achieved, and I’ll be taking this journey alongside you too.   

To learn more about CapSouth Wealth Management and the services we offer, visit our website at www.capsouthwm.com  

By:  Jennifer Fensley, CFP®, CRPS® | Wealth Advisor 

CapSouth Partners, Inc, dba CapSouth Wealth Management, is an independent registered Investment Advisory firm. Information provided by sources deemed to be reliable. CapSouth does not guarantee the accuracy or completeness of the information. CapSouth does not offer tax, accounting or legal advice. Consult your tax or legal advisors for all issues that may have tax or legal consequences. This information has been prepared solely for informational purposes, is general in nature and is not intended as specific advice.